What is a Rate Adjustment?
Rate adjustments are a powerful tool on Goose, allowing businesses to modify offer prices based on demand. Whether you're looking to capitalize on peak holiday periods or adjust rates according to real-time occupancy levels, the Rate Adjustment tool has got you covered.
How to use Rate Adjustment
While rate adjustments can be applied at any time, we generally recommend considering them during:
Major holidays like the 4th of July, Labor Day, and Thanksgiving.
Popular vacation periods such as Spring Break and Summer.
High-demand weekends.
Strategies for Setting Rate Adjustments
There are two primary strategies to consider when setting up rate adjustments: Proactive and Reactive.
Proactive Strategy:
Overview: This strategy involves forward-thinking. Businesses anticipate future demand based on historical data and trends.
Implementation: Identify date ranges that have historically shown high demand. Create a Rate Adjustment rule for each of these periods. For instance, if you've noticed that every Labor Day weekend you're fully booked, you might want to set a rate adjustment for that specific timeframe.
Tip: Consider planning your entire year in advance. Mark out all the holidays and peak periods where you expect maximum occupancy.
Reactive Strategy:
Overview: This is a more dynamic approach, adjusting rates based on real-time data.
Implementation: Set rate adjustments that trigger based on actual occupancy levels. For example, if you reach 90% capacity, you might have a rule that automatically increases prices for the remaining slots.
Tip: This strategy is particularly useful for businesses that experience unpredictable surges in demand. It ensures you're always getting the best value for your offers.